OYO to pay 8 months full salary as part of COVID-19 bereavement support
New Delhi: OYO will support the families of the employees who have lost their lives due to Covid-19, with 8 months’ pay in full and support the education of their children for 5 years as part of bereavement support, OYO founder and Group CEO Ritesh Agarwal said in a tweet on Wednesday.
“Wellbeing of OYOpreneurs and their families is our priority. Unfortunately, some of our colleagues have lost their battle with Covid-19 and we hope that our bereavement support will help their kin,” Agarwal said in a tweet.
1/ COVID-19’s second wave has been devastating for many. During this time, the wellbeing of OYOpreneurs & their families is our utmost priority. Unfortunately, some of our colleagues have lost their battle with COVID-19 & we hope that our bereavement support will help their kin👇
— Ritesh Agarwal (@riteshagar) May 19, 2021
The support will also include term insurance payout equal to 3 times their annual pay, support education of kids for 5 years and group medical coverage to spouse and kids.
Besides statutory benefits, the employee’s legal heirs/ nominee will be granted an opportunity to liquidate and settle the vested options or exercised shares upon the occurrence of the next liquidity event, OYO said in a statement.
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